Shikhar Insurance and IME General Insurance publish satisfactory first quarter report; growth in net profits for both

Shikhar Insurance Company Limited (SICL) net profit has increased by 14.85% in the first quarter of the fiscal year 2076/77. The company earnings have increased from Rs.10.57 Crore in the corresponding quarter to Rs.12.14 Crore in the Q1 of the FY 2076/77.

The net earnings from premium stood at Rs.45.83 Crore till Q1 of FY 2076/77. The company has earned Rs.5.27 Crore from investment, loans and others while its reinsurance income stands at Rs.12.87 Crore.

Shikhar Insurance has a paid up capital of Rs.1.05 Arba with a reserve and surplus of Rs.51.77 Crore. It has Rs.1.11 Arba in insurance fund and Rs.7.33 Crore in contingent fund.

Annualized EPS and net worth per share stands at Rs.45.90 and Rs.261.60. The quarter end P/E ratio of the company is at 15.78 times.

IME General Insurance Limited (IGI) has earned a net profit of Rs.2.74 Crore in the Q1 of 2076/77 fiscal year. The profit of the company has increased from Rs.2.61 Crore in the corresponding quarter of last fiscal year.

The net earnings from premium has increased to Rs.16.51 Crore from Rs.12.35 Crore in the corresponding quarter of last fiscal year. The company's number of policyholders has increased to 25,293 compared to 20,387 in the corresponding Q1 of last fiscal year.

The insurance company has a paid-up capital of Rs.1.02 Arba with a reserve of Rs.17.81 Crore in Q1 2076/77. The company’s insurance fund has increased to Rs.26.02 Crore in this quarter from Rs.19.10 Crore in the corresponding quarter of the last fiscal year.

The annualized EPS stands at Rs.10.76 with net worth per share of Rs.142.95. The PE Ratio stands at 26.95 times as of the first quarter end.